IB: Small balances in various currencies

Quote from orange_trad:

This 'intelligent' way of trading you guys speak of would be a bit smarter if you figured your p&l into your exit amount, instead seeing what it is and try to make up for it in the next trade. But regardless how you do it, neither way you will get rid of residuals, unless you insist on exiting on prices that will produce a whole number on the 4th decimal as entry price / exit price ratio. And that would be just plain stupid.
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Not to say it would distract too much from trading.

It's hard to calculate the right amount when the price is volatile.

I think a proper sweeping system built-in TWS is the proper way to do. IB still lags behind when it comes to forex trading.
 
Well, aggregating currency amounts one wants to convert, to currency trades one would take anyway, workes just fine for me, because IB allows odd lots for trades above the minimum trade size.

I use it every day for conversions and in order to eliminate negative residuals.

Of course, I have to admit, that it will only work and generate trading gains, if one has a working forex scalping knowledge and strategy.

As I am a forex scalper, no problem for me. But I can understand, that longer time traders, or traders of other instruments without much experience in forex trading have difficulties with it.

So no offence, of course it may not work for everybody.
 
Quote from ZRA:

If you were charged a commission why don't we just do it ourselves in TWS? It has no difference, hasn't it?

Or do they charge you without minimum commission?
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They came back, the small balance came back, it did not work. I don't like talking to IB, and stopped calling.
 
Quote from FattBurger:

They came back, the small balance came back, it did not work. I don't like talking to IB, and stopped calling.
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You were charged a commission and the small balance came back. Do you mean?
reached IB staff -> small balance removed, normal commission rate charged -> small balance came back later -> you removed it yourself in TWS, commission charged again

This is one of the largest ridicule in the world in which IB charges for a service which fails to do what it does. :mad:
 
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